Continental, Banks Said to Discuss $7.2 Billion Loans
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Continental AG, Europe’s second-biggest tiremaker, has begun negotiations with lenders to refinance 5.3 billion euros ($7.2 billion) in loans coming due next year, three people with knowledge of the discussions said.
The talks are at an exploratory stage and the company hasn’t decided on terms of the refinancing which may lead to the extension of loan maturities or a reduction in borrowing costs, said two of the people, who asked not to be identified because the negotiations are confidential.